Property Taxes

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1 big thing: Texas property bills still climbing

By Naheed Rajwani-Dharsi,  Megan Stringer and Sami Sparber

Data: CoreLogic analysis; Map: Axios Visuals Median property taxes in Texas rose 26% between 2019 and 2023, data shows, even as local and state governments took steps to reduce the impact. Driving the news: The protest process for properties in the Dallas Central Appraisal District started yesterday and ends May 15. The big picture: Homeownership is growing costlier nationally, partly due to pandemic-fueled price growth. With no state income tax, Texans pay some of the highest property taxes in the nation. How it works: Property taxes are based on a home's assessed value and the local tax rate. Money collected through property taxes supports schools, roads, emergency services and other public services. State of play: Nationwide, property tax bills are steeper after U.S. home prices surged nearly 40% during the pandemic, according to a recent CoreLogic report. Median property taxes on U.S. single-family homes rose from $2,367 in 2019 to $2,877 in 2023, per CoreLogic. The median property tax bill in Texas in 2019 was $3,900, according to the latest data CoreLogic shared with Axios. The median was $4,916 in 2023. Zoom in: The average taxable value of homes in Denton County increased from roughly $402,000 in 2022 to roughly $449,000. The average market value of Collin County homes increased from around $513,000 in 2022 to around $584,000 in 2023. Texas voters approved a historic property tax cut in November.